During the week ending January 2, Chinese domestic hot dip galvanized (HDG) prices have mostly been characterized by a sideways trend. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Overall transaction activity in the Chinese domestic HDG market has remained sluggish in the week in question. Most traders have been maintaining a wait-and-see stance and some mills are still experiencing tightness of funds. Meanwhile, inventories at the mills have remained at high levels and, with the approach of the Chinese New Year holiday (starts at the end of January), most traders show little inclination to build up their stocks. It is expected that local Chinese HDG prices will remain stable in the coming seven days.